St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-12

YESTERDAYS MARKET.
On the Chicago Board of Trade Wheat Was
Unsettled, Nervous and Gener-
ally Weaker.
However the Closing Prices Last Night
Were Shade Higher Than Those
of Thursday.
Rumors of Failures Caused Panicky
Feeling and Falling Fig
ureS.
Transactions in the Finan cial Circles
0I TT.nlI - ION
Transactions in the Finan cial Circles
of Wall Slreeu-- General
Quotations.
Special TO the Globe.

CHICAGO, ILL.,. March 11.-When the firm of
George Houghton s. Cp. went TO the wall this
morning May wheat was raided down % sic
and remained at about that figure until the
close to-day, when it went up TO S23sc, with
the clique holders heavy buyers. The failure
of Houghton was the cause of considerable
comment. The liabilities are about $50, 600
His failure is attributed to the squeeze in
May wheat. He worked valiantly to
keep up margins, but his exche-
quer could not stand the drain.
The gossip around the wheat pit agrees on one
point, and this is that Field, Lendley Il Co.,
ana Irwin, Green Co. have sold ont their
holdings of wheat. These two houses, it is
supposed. represented one interest. The Cos
sip also agrees that the holdings of NJ. Rosen-
1eld y Co., George Z. Walker u Co., and c. j.
hershaw Il Co, have not been sold and that
these three houses probably represent the
Same interest. Wheat to-day was
DULL ALL THE SESSION.
Cudahy was buying wheat to-day. and some
81 the bear houses with the most substantial
clientele were turning bulls. Arthur Orr
'ald that he considered wheat cheap for June.
The enormous spreads which existed betw cen
ms and other markets have been largely
wiped out. The professional spectators, who
made business of operating in these spreads,
buying ut Duluth, at St. Louis, or at New
York and selling here, and vice versa, have
suffered so terribly that they are doing moth
Ing. That helps TO make the wheat pit dull.
The great class Of spectators who
through other houses, has also been
tut of. The market has been too wild for
them and they have retired badly hurt. The
amenities of the commission business have
teen sadly forgotten in the excitement of the
present wheat deal. Brokers and commis-
tion men are now arrayed against each other
ike wolves, and willing to break each other
Tor small commission. The confidence in
corn is somewhat shaken. 1t is believed that
there are TOO many bulls in the deal. When
two-thirdS of the packers at the stock yards
take hold of deal the knowing ones say
hat it rarely amounts to much, and that is
The condition of the corn market at present.
THE ROUTINE REPORT.
p CHICAGO, March 1.-THE wheat market was
unsettled and nervous to-day and generally
weaker. but the closing prices for the day
were shade higher than those of yesterday
The market opened steady, with May delivery
at S214e, from which point it advanced
quickly to S31ac, but began to break down
sgain under free pounding by the bears. On
the way down the rumor was again started
that several large failures had occurred,
which produced panicky feeling and caused
another break in May to size. When it was
found that only one failure had occurred, and
thar of a local operator, the market reacted
in the afternoon board, May advancing to
S21ac, and closed for the day at
larger, aggregating 255,OO0 bushels
from three ports. The market for corn
opened &c higher, but reacted under rather
free offerings, May falling back to 407sc raj
lied and closed ut 4lH@413Sc. The receipts
We're somewhat large, which, together with
the weakness in wheat produced easier
feeling. Oats was also easier. in sympathy
with the other markets, and closed 3S6115c
lower. There was very little doing in mess
pork, and trading was confined to few set
Elements of May and June contracts. Free
offerings by two or three prominent local
operators caused break OF 1562Oc per 100
rs in lard and prices closed at about inside
figures. Short ribs were weak under large
offerings, and closed 25c per 100 lbs lower.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. ,, March, 1890, closing at 1890:
May. S2j@c,~ closing at S25gc; June, S14c.
closing at sic; July, S13sc, closing at sic.
Corn-No. ,. March, 3634c, closing at 361sc;
May, 4lTsc, closing at 4l4@4I3sc; June. 42c,
CLOSING at 4ls4c; July, 43c, closing at 4234c.
Oats-No. 2. March, 24c. closing at 2416c;
May, 29$sc, closing at 29Hc; June 294c,
March, sd Sc closing at S20lO; May. so. so,
closing at S20:50; June, 5000, closing at
5000. Lard, per 100 pounds-March, ST.T5,
closing at $40: May, SS.05, closing at S7.S5;
per 100 pounds-March. $3.50, closing
at S.321@; May, $50, closing at
SS.421a; June $S.7215, closing at SS471S
Cash quotations were as follows: Flour steady
and unchanged. Wheat-No. 2 spring, 1880
Sc; No. 3 spring, 73c; No. 2 red, nominal.
Corn-No. 2, 36H@3S1ac. Oats-No. 2, 24c.
Rye-No. 2, re. Barley-No. 2, 491a@52c.
Flax seed-No. l, Sl.O6. Prime timothy seed,
S1.S0Q1.S1. Mess pork. per Dbl, S20.10@20..5
Lard, per 100 lbs, $40. Short ribs, sides.
loose, SS.323@@S.40; dry sailed shoulders.
boxed, S6o6.25; short clear sides, boxed, 1865
q II finjS
per gal Sl.1S. Sugars, cut loaf, 6H@64c;
granulated, 57sc; standard "A 51@@534c.
Receipts-Flour, $4,000 bbs; wheat, $4,000
bu; corn, 123,00C blu: oats, $4,000 bu; rye
LOCO bu; barley, $4,000 bu. shipments
Flour, $4,000 bbls; wheat, $4,000 bu: corn
1900 bu: oats. $4,000 bu; rye, 600 bu;
barley, 15,G00 blu. On the produce exchange
to-day the butter market was quiet and firm:
creamery, 251a Josie per ID; dairy ,24921c; eggs,
44@14Ac.